Colorectal Procedure Market Global Analysis and Forecast 2028

Colorectal Procedure Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Endoscope, Electrosurgery, Handheld Devices & Visual Systems, Sealing & Stapling Devices, Ligation Clips and Dilators and Speculas, Cutter & Shears, Accessories, and Others), Surgery Type [Right Hemicolectomy, Left Hemicolectomy, Subtotal Colectomy, Low Anterior Resection, Abdomino-Perineal Resection, and Others (Including Endoscopic Surgery etc.)], End User (Hospitals & Clinics, Surgery Centers, and Others), and Indication (Colon Polyps, Crohn's Disease, Colorectal Cancer, Colitis, Irritable Bowel Syndrome, and Other Indications)

Publication Month: Aug 2022 | Report Code: TIPRE00029538 | No. of Pages: No. of Pages247 | Category: Medical Device | Status: Published

The colorectal procedure market is projected to reach US$ 29,550.98 million by 2028 from US$ 12,496.49 million in 2021. It is expected to register a CAGR of 13.1% from 2022 to 2028.

A colorectal procedure is an operation with colon resection, and anastomosis is performed to treat various pathologies such as ulcerative colitis, Crohn's disease, mechanical obstruction, recurrent obstruction, recurrent diverticulitis, etc. The procedure helps remove all or part of the colon. Neighboring lymph nodes are also removed. When only part of the colon is removed, it is called a hemicolectomy, partial colectomy, or segmental resection. The surgeon removes the part of the colon with cancer and a small segment of the normal colon on either side. Colorectal surgery is associated with a higher morbidity and mortality risk than other general surgical subspecialties. According to the National Library of Medicine, all-cause mortality rates after colorectal surgery range from 1% to 16.4%, with morbidity rates as high as 35%. However, advances in surgical techniques in bowel surgery and a different therapeutic approach by medical staff have led to the emergence of techniques aimed at reducing the length of hospital stay of the patients. These techniques are also known as early or multimodal rehabilitation, which proposes a different global strategy to reduce morbidity and mortality, reduce hospital stays, and improve the quality of life of these patients.

The report offers insights and in-depth analysis of the global colorectal procedure market, emphasizing various parameters, such as market trends, technological advancements, and market dynamics. It also provides the competitive landscape analysis of leading market players and the impact of the COVID-19 pandemic on the market across all major regions.

The cost of overall healthcare is surging significantly in North America. The US health system incurred a direct cost of US$ 5.3 billion in 2020. The healthcare system contributed US$ 60 billion in addition to the overall annual costs of the country in 2020. Over 40% of the population in North America canceled their appointments in 2020, and 13% reported that they needed care but did not schedule or receive care. The COVID-19 pandemic altered economic conditions and social behaviors in North American countries. Containment measures enacted by governments to mitigate the spread of disease changed the US healthcare service delivery pattern. According to the Department of Emergency Medicine, in many cities across the country, emergency department (ED) visits decreased by ~40% in 2020. Moreover, outpatient appointments and elective treatments were postponed or replaced by telemedicine practices.

Strategic Insights

Report CoverageDetails
Market Size Value inUS$ 12,496.49 Million in 2021
Market Size Value byUS$ 29,550.98 Million by 2028
Growth rateCAGR of 13.1% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
No. of Pages247
No. of Tables148
No. of Charts & Figures93
Historical data availableYes
Segments coveredProduct, Surgery Type, End User, and Indication
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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- Colorectal Procedure Market

In November 2021, Pfizer Inc. announced the investigational COVID-19 oral antiviral candidate, PAXLOVID. Based on an interim analysis of the Phase 2/3 Evaluation of Protease Inhibition for COVID-19 in High-Risk Patients (EPIC-HR), a randomized, double-blind study of non-hospitalized adult COVID-19 patients who were at a high risk of progressing to severe illness, the PAXLOVID vaccine reportedly reduced hospitalization and death. There were supply constraints related to vaccine production in the initial months of 2021. However, setting up new plants and promoting technological shifts are the strategies that support the production of booster doses in the US and Canada, along with their administration plans.

The procedures, including screening colonoscopies, were delayed until the pandemic stabilizes. This was also done to reduce the potential risk of exposure to SARS-CoV-2 as the virus is present in feces from COVID-19 patients. In response, there was a 90% drop in CRC screenings, resulting in a 32% drop in new CRC diagnoses and a 53% drop in CRC-related surgical procedures by mid-April 2020. In addition, through April 2021, the rate of routine screening colonoscopies remained 50% lower than before the pandemic. The COVID-19 pandemic presented surgeons with patients with significant complications and more advanced stages of the disease due to delayed presentations to healthcare facilities. However, hospitals gradually started resuming elective and surgical procedures as the COVID-19 recovery rate decreased. Thus, the demand for the colorectal procedure is expected to increase. Organized colorectal cancer  diagnosis programs and some opportunistic screening through individuals' health care providers had been resumed, and thus the required surgical procedures. The surgical approach is changing and moving towards less invasive procedures to minimize aerosolized biological fluids to minimize the spread of the virus. Hence, the colorectal procedure market is gaining attention during the COVID-19 crisis.

Based on region, the global colorectal procedure market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

Lucrative Regions for Global Colorectal procedure Market

Lucrative Regions for Global Colorectal procedure Market

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Market Insights

Increasing Prevalence of Colorectal Cancer Drives Global Colorectal procedure Market

Colorectal cancer is one of the most commonly found and lethal cancers developed in individuals with the combined influence of genetic and environmental factors. According to the World Health Organization (WHO), colorectal cancer is the third most prevalent form of cancer, with ~1.93 million global cases in 2020. Furthermore, colorectal cancer mortality and incidence rates vary globally, and ~916,000 deaths in 2020 were due to colorectal cancer. It is the third most common cancer in men and the second most common cancer in women. The lifetime risk of developing colorectal cancer is about 1 in 23 for men and 1 in 25 for women. About 95,55,027 cancer deaths were recorded in 2018, of which 8,80,792 were related to colorectal cancer. Therefore, colorectal cancer was identified as the third most common cancer and the second most death-causing cancer.

A significant population in North America is diagnosed with colorectal cancer. For instance, according to the Centers for Disease Control and Prevention (CDC) and American Cancer Society, an estimated 1.93 million cases of adults in the US were diagnosed with colon and rectum cancer, and 53,200 deaths were reported with colorectal cancer in 2020. The presence of cancer is similar in European countries. For instance, as per Cancer Research UK, deaths from bowel/colorectal cancer in the UK between 2016 and 2018 were reported to be 16,571. Further, the data suggests ~42,880 new bowel cancer cases in the UK annually, which are over ~110 patients daily.

Colorectal cancer is increasingly affecting the populations in Asian countries. For instance, according to the International Agency for Research on Cancer & GLOBOCAN, the estimated incidence of colorectal cancer in Asia reported ~1,009,400 new cases in 2020. Japan, China, Malaysia, Singapore, Korea, and Turkey are witnessing high prevalence rates compared to the other countries in Asia Pacific.

These statistics showcase increased demand for advanced cancer diagnostics and therapeutics in various regions. Thus, the rising number of patients suffering from the disease is driving the growth of the global colorectal procedure market.

Product-based Insights - Colorectal Procedure Market

Based on product, the colorectal procedure market is segmented into endoscope, electrosurgery, handheld devices & visual systems, sealing & stapling devices, ligation clips and dilators and speculas, cutter & shears, accessories, and others. The endoscope segment accounted for the largest market share in 2021 and is expected to grow at a CAGR of 13.3% during the forecast period. The market position of this segment is due to the rising cases of colorectal cancer globally. Endoscopes are widely utilized for colorectal treatment. For instance, the Public Library of Science (PLOS) report states that CRC is commonly diagnosed among the 40.7 per 100,000 population and is the third leading cause of cancer death (14.8 per 100,000) in the US as per estimates in 2020. Therefore, demand for endoscopes accelerated to address this issue. Diagnosing colorectal diseases has been increasingly successful owing to advancements in endoscopic technology.  

Surgery Type-based Insights - Colorectal Procedure Market

Based on surgery type, the market is segmented into right hemicolectomy, left hemicolectomy, subtotal colectomy, low anterior resection, abdomino-perineal resection, and others (including endoscopic surgery etc). The subtotal colectomy segment led the market in terms of share in 2021 and is expected to retain its dominance during the forecast period.. According to the NIH report, subtotal colectomy is the procedure of choice in the management of juvenile polyposis and synchronous colon cancer and is generally thought to be the primary procedure when cancer of the colon is associated with synchronous adenomatous polyps in areas other than those involved in the operations. Subtotal colectomy is highly recommended by physicians for the treatment of colorectal cancer mainly due to the lower risk involved, and follow-up can be easily performed by sigmoidoscopy, which is less invasive than colonoscopy. Such factors mentioned above are responsible for overall segmental growth, ultimately contributing to market growth.

End User-based Insights - Colorectal Procedure Market

Based on end user, the colorectal procedure market is segmented into hospitals & clinics, surgery centers, and others. The hospital & clinics segment leads the market in 2021 and is expected to retain its dominance during the forecast period. Colorectal cancer in the hospital setting is generally seen as required when treating some renal failure. The hospitals & clinics provide extensive healthcare and medical services to patients suffering from various diseases and disorders. Most surgeries are performed in hospitals due to continuous patient care and monitoring.

Indication-based Insights - Colorectal Procedure Market

Based on indication, the market is segmented into colon polyps, crohn's disease, colorectal cancer, colitis, irritable bowel syndrome , and other indications. The irritable bowel syndrome segment leads the market in 2021 and is expected to retain its dominance during the forecast period.The irritable bowel syndrome segment held the largest market share in 2021. According to the Frontiers S.A. report, irritable bowel syndrome (IBS) is one of the leading functional gastrointestinal disorders, affecting more than 9% of global adults. Further, The American Society of Colon and Rectal Surgeons report states that IBS is a common disorder affecting an estimated 15% of the population, standing as one of the severe conditions commonly known as functional gastrointestinal disorders. Such factors mentioned above are ultimately responsible for overall market growth during the forecast period.

Global Colorectal Procedure Market, by Product– 2021 and 2028

Global Colorectal Procedure Market, by Product– 2021 and 2028

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Players in the global colorectal procedure market adopt organic strategies, such as product launch and expansion, to increase their footprint and product portfolio worldwide.

Based on Geography, the global colorectal procedure market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

Ethicon (Johnson & Johnson Services, Inc.); Medtronic; Colospan Ltd; SAFEHEAL; B. Braun Melsungen AG; Cardinal Health Inc; Boston Scientific Corporation; CooperSurgical, Inc.; Olympus Corporation; and Suturion AB are among the key companies operating in the global colorectal procedure market.

Frequently Asked Questions

Colorectal surgery involves colonic resection and anastomosis that is performed for the treatment of various pathologies involving ulcerative colitis, Crohn's disease, mechanical obstruction, and recurrent diverticulitis. The specialty of colorectal surgery is unique in several aspects, covering a large part of visceral anatomy.
Increasing prevalence of colorectal cancer and new product launches are some factors responsible for the overall market growth.
Based on product, endoscope took the forefront leaders in the worldwide market by accounting largest share in 2022 and is expected to continue to do so till the forecast period.
The subtotal colectomy segment dominated the global colorectal procedure market.
Medtronic; Ethicon; Conmed Olumpus Corporation; Suturion; Boston Scientific Corporation; CooperSurgical, Inc; Cadinal Health; Safeheal; B.braun Melsungen AG; and Colospan Ltd; are among the leading companies operating in the global colorectal procedure market
Global colorectal procedure market is segmented by region into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In North America, the U.S. held the largest market share for colorectal procedure market. The US is expected to hold the largest share in the colorectal procedure market during the forecast period. The presence of top players and favorable regulations related to product approvals coupled with commercializing new products are the contributing factors for the regional growth. Additionally, the increasing number of technological advancements is the key factor responsible for the Asia Pacific regional growth in the coming years.

The List of Companies - Colorectal Procedure Market

  1. Ethicon (Johnson & Johnson Services, Inc.)
  2. Medtronic
  3. Colospan Ltd
  4. SAFEHEAL
  5. B. Braun Melsungen AG
  6. Cardinal Health Inc.
  7. Boston Scientific Corporation
  8. CooperSurgical, Inc.
  9. Olympus Corporation
  10. Suturion AB
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the colorectal procedure market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global colorectal procedure market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
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